# USDA lowers corn, soybean yield estimates due to drought | 2021-08-12  | Agri-Pulse Communications, Inc.

> USDA's August Crop Production report projected the average corn yield at 174.6 bu/acre, below the trade estimate of 177.6 and July's 179.5, and the soybean yield at 50 bu/acre. USDA cut 2021-22 corn ending stocks by 190 million bushels to 1.2 billion, and Chicago corn futures jumped about 5% after the release.

- Date: 2021-08-12 · published 2021-08-12T12:00:00.000Z
- Category: report · region US · magnitude high
- Page: https://feedsoft.ai/events/45406-usda-lowers-corn-soybean-yield-estimates-due-to-drought-2021-08-12-agri-pulse
- Commodities: [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md), [DDGS](https://feedsoft.ai/c/DDGS.md)

## Why it matters

A bigger-than-expected yield cut and sharply lower ending stocks tighten the corn balance sheet and lift feed grain prices. Soybean meal and feed costs are likely to firm as the smaller crop expectations are priced in.

## Read by commodity

- SBM: bullish ▲
- SOY: bullish ▲
- CORN: bullish ▲
- DDGS: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2019-09-12 | [USDA lowers corn, soybean yield estimates \| 2019-09-12  \| Agri-Pulse Communications, Inc.](https://feedsoft.ai/events/10852-usda-lowers-corn-soybean-yield-estimates-2019-09-12-agri-pulse-communications.md) | +4.8% | +9.0% |
| CORN | 2020-07-10 | [USDA holds corn and soybean yields steady in latest WASDE \| 2020-07-10  \| Agri-Pulse Communications, Inc.](https://feedsoft.ai/events/52074-usda-holds-corn-and-soybean-yields-steady-in-latest-wasde-2020-07-10-agri-pulse.md) | -4.9% | -7.5% |
| CORN | 2018-03-29 | [Farmers plan to cut corn, soybean acreage, USDA says \| 2018-03-29 \| Agri-Pulse \| Agri-Pulse Communications, Inc.](https://feedsoft.ai/events/66030-farmers-plan-to-cut-corn-soybean-acreage-usda-says-2018-03-29-agri-pulse-agri.md) | +4.8% | +4.9% |
| CORN | 2022-05-12 | [USDA warns on corn, winter wheat crops due to weather \| 2022-05-12 \| Agri-Pulse Communications, Inc.](https://feedsoft.ai/events/13363-usda-warns-on-corn-winter-wheat-crops-due-to-weather-2022-05-12-agri-pulse.md) | -0.3% | -0.9% |
| CORN | 2026-04-09 | [USDA raises price estimates for several commodities \| Agri-Pulse Communications, Inc.](https://feedsoft.ai/events/19801-usda-raises-price-estimates-for-several-commodities-agri-pulse-communications.md) | +0.9% | +1.5% |
| SOY | 2019-09-12 | [USDA lowers corn, soybean yield estimates \| 2019-09-12  \| Agri-Pulse Communications, Inc.](https://feedsoft.ai/events/10852-usda-lowers-corn-soybean-yield-estimates-2019-09-12-agri-pulse-communications.md) | +4.1% | +8.2% |
| SOY | 2018-03-29 | [Farmers plan to cut corn, soybean acreage, USDA says \| 2018-03-29 \| Agri-Pulse \| Agri-Pulse Communications, Inc.](https://feedsoft.ai/events/66030-farmers-plan-to-cut-corn-soybean-acreage-usda-says-2018-03-29-agri-pulse-agri.md) | +1.3% | +1.0% |
| SOY | 2023-05-31 | [USDA lowers ag trade forecast for FY 2023 \| Agri-Pulse Communications, Inc.](https://feedsoft.ai/events/5571-usda-lowers-ag-trade-forecast-for-fy-2023-agri-pulse-communications-inc.md) | +4.4% | +11.9% |

## Sources

- agri-pulse.com: https://www.agri-pulse.com/articles/16320-usda-lowers-corn-soybean-yield-estimates-due-to-drought

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.